The Powerball jackpot has ballooned to $360 million in a matter of weeks, making it the third largest Powerball jackpot and the seventh largest jackpot of all time, according to the Associated Press.
The drawing is scheduled for Wednesday night and has a $229.2 million cash value.
Urgent: Is Obamacare Hurting Your Wallet? Vote in Poll
Lottery officials say the "cross-selling" of Powerball jackpot and Mega Millions tickets, as well as a game redesign in 2012, boosted jackpots and increased the odds of winning some kind of prize.
Iowa Lottery spokeswoman Mary Neubauer says large jackpots are "the new normal," and she expects them to keep surpassing all-time jackpot records set years ago.
The last major win came when a New Jersey man
won a $338.3 million jackpot on March 23. It was considered
the fourth largest Powerball jackpot in history.
Related stories:
Powerball Winner Will Face An Extra 5% in Taxes Under Obama
Powerball Beware: Unbelievable Misfortunes of Lottery Winners Turned Losers
© 2026 Newsmax. All rights reserved.